PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1780344
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1780344
The luxury vinyl tiles market is expected to reach USD 21.12 billion by 2030 from USD 17.74 billion in 2025, at a CAGR of 3.56% during the forecast period.
Scope of the Report | |
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Years Considered for the Study | 2020-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million/USD Billion) and Volume (Million Square Meter) |
Segments | Type, Product type, Distribution Channel, End-use Sector, and Region |
Regions covered | Asia Pacific, North America, Europe, Middle East & Africa, and South America |
"Rigid type to be the fastest-growing segment in the market during the forecast period."
The rigid type offers excellent durability against dents, scratches, and temperature fluctuations, making it ideal for high-traffic areas and damp environments. Rigid-core LVT can be installed over various existing subfloors, including concrete, plywood, and even previous flooring, using an easy click-lock or glue-down method. This straightforward installation process reduces both labor costs and time, making it a popular choice for professionals and DIY enthusiasts alike.
"Glue-down LVT segment to account for the second-largest market share."
Glue-down LVT is anticipated to be the second-largest segment. This installation method is favored for its superior stability, durability, and suitability for high-traffic areas. Glue-down LVT involves adhering tiles or planks directly to the subfloor using either pressure-sensitive or hard-set adhesives, which creates a strong, long-lasting bond. Consequently, it is particularly well-suited for commercial environments such as offices, hospitals, retail stores, and schools, where flooring must endure heavy foot traffic. Additionally, glue-down LVT provides a smoother, more secure finish with minimal movement or shifting over time, making it especially effective in large or open spaces.
"Wholesale distributors are estimated to account for the second-largest market share."
LVT is experiencing significant growth through wholesale distributors, due to their ability to offer a wide range of products, competitive pricing, and efficient supply chains. These distributors serve as a vital link between manufacturers and retailers, contractors, or large buyers by stocking a variety of LVT options and providing them in bulk at lower prices. This bulk availability is particularly attractive to commercial projects, real estate developers, and contractors who need large quantities of flooring materials on short notice.
"The commercial sector is estimated to be the second-fastest-growing market."
LVT is rapidly gaining popularity in the commercial sector due to its unique combination of durability, design flexibility, and cost-effectiveness. Commercial spaces such as offices, retail stores, hotels, hospitals, and educational institutes require flooring that can withstand heavy foot traffic, frequent cleaning, and long-term wear, and LVT excels in all these areas. Its high resistance to scratches, stains, moisture, and dents makes it an ideal choice for such demanding environments. Additionally, the quick and easy installation method of LVT minimizes downtime, which is especially important for commercial projects that need to remain operational or meet tight deadlines.
"North America to be the largest market during the forecast period."
North America is the leading region, holding the largest market share in terms of both volume and value. In recent years, there has been continuous growth in residential and commercial construction activities in the US and Canada. This growth has resulted in a heightened demand for materials used in floor and wall coverings. Luxury vinyl tiles, in particular, have gained popularity due to their durability, versatility, and cost-effectiveness. Furthermore, the increasing number of renovation and remodeling projects across North America is also contributing to the rising demand for luxury vinyl tiles.
By Company Type: Tier 1: 25%, Tier 2: 42%, and Tier 3: 33%
By Designation: C-level Executives: 20%, Directors: 30%, and Other Designations: 50%
By Region: North America: 20%, Europe: 10%, Asia Pacific: 40%, South America: 10%, and the Middle East & Africa 20%
Companies Covered: Mohawk Industries, Inc. (US), Tarkett (France), Shaw Industries Group, Inc. (US), Interface, Inc. (US), Gerflor (France), Forbo Group (Switzerland), Armstrong Flooring (US), Mannington Mills, Inc. (US), Responsive Industries Ltd. (India), and LX Hausys (South Korea), among others, are covered in the report.
The study includes an in-depth competitive analysis of these key players in the luxury vinyl tiles market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This research report categorizes the luxury vinyl tiles market based on type (rigid and flexible), product type (glue-down LVT, click LVT, loose lay LVT, and self-adhesive LVT), distribution channel (retail stores, online retail, and wholesale distributors), end-use sector (residential and commercial), and region (Asia Pacific, North America, Europe, South America, and the Middle East & Africa). The report's scope covers detailed information regarding the drivers, restraints, challenges, and opportunities influencing the growth of the luxury vinyl tiles market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products offered, and key strategies, such as partnerships, agreements, product launches, expansions, and acquisitions, associated with the luxury vinyl tiles market. This report covers a competitive analysis of upcoming startups in the luxury vinyl tiles market ecosystem.
Reasons to Buy the Report
The report will offer the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall luxury vinyl tiles market and the subsegments. This report will help stakeholders understand the competitive landscape, gain more insights into positioning their businesses better, and plan suitable go-to-market strategies. The report will help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the luxury vinyl tiles market.